Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200. Shore Co. paid freight of $1,800. Assume all discounts are taken. Journalize Shore Co.'s entries for the (a) sale on account, (b) payment of freight, and the (c) collection of the amount due. (a)   fill in the blank 157fa5fc9fa5fc3_2         fill in the blank 157fa5fc9fa5fc3_4     fill in the blank 157fa5fc9fa5fc3_6         fill in the blank 157fa5fc9fa5fc3_8 (b)   fill in the blank 157fa5fc9fa5fc3_10         fill in the blank 157fa5fc9fa5fc3_12 (c)   fill in the blank 157fa5fc9fa5fc3_14         fill in the blank 157fa5fc9fa5fc3_16 Journalize Blue Star Co.'s entries for the purchase of (a) merchandise on account and the (b) payment of the amount due. (a)   fill in the blank 125136f7bf7f031_2         fill in the blank 125136f7bf7f031_4 (b)   fill in the blank 125136f7bf7f031_6         fill in the blank 125136f7bf7f031_8

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.5BE
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Transactions for Buyer and Seller

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $67,200. Shore Co. paid freight of $1,800. Assume all discounts are taken.

Journalize Shore Co.'s entries for the (a) sale on account, (b) payment of freight, and the (c) collection of the amount due.

(a)   fill in the blank 157fa5fc9fa5fc3_2  
      fill in the blank 157fa5fc9fa5fc3_4
    fill in the blank 157fa5fc9fa5fc3_6  
      fill in the blank 157fa5fc9fa5fc3_8
(b)   fill in the blank 157fa5fc9fa5fc3_10  
      fill in the blank 157fa5fc9fa5fc3_12
(c)   fill in the blank 157fa5fc9fa5fc3_14  
      fill in the blank 157fa5fc9fa5fc3_16

Journalize Blue Star Co.'s entries for the purchase of (a) merchandise on account and the (b) payment of the amount due.

(a)   fill in the blank 125136f7bf7f031_2  
      fill in the blank 125136f7bf7f031_4
(b)   fill in the blank 125136f7bf7f031_6  
      fill in the blank 125136f7bf7f031_8
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